5-Unit Apartment
New
For Sale
$424,900
5100 SOUTH Road, New Port Richey, FL 34652
Residential Income, NEW PORT RICHEY, FL
Property Size2,753 SF
Lot Size0.34 Acres
Price / SF$154.34
Days on Market2
Property Features for 5100 SOUTH Road
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
R1MH
Bedrooms
3
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 1, Bathroom 2, Bathroom 3, Bathroom 5, Bathroom 1, Bedroom 3, Bathroom 4, Bedroom 2
Parking features
Assigned, Guest
Pets allowed
Yes
Interior features
Built-in Features, Ceiling Fans(s), Open Floorplan, Thermostat
Exterior features
Outbuildings, Lighting, Private Mailbox
Appliances
Electric Water Heater, Range, Refrigerator, Tankless Water Heater
Subdivision
TAMPA TARPON SPGS LAND CO
Middle school
Gulf Middle-PO
High school
Gulf High-PO
Directions
US Hwy 19 to West on South Rd
Standard status
Active
APN
16-26-08-001.0-022.00-001.0
Size
2,753 SF
Lot size
0.34 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Description
TAMPA TARPON SPRINGS LAND COMPANY PB 1 PGS 68-70 WEST 100.00 FT OF NORTH 150.00 FT OF TRACT 22
Tax Annual Amount
5858
Legal Description
TAMPA TARPON SPRINGS LAND COMPANY PB 1 PGS 68-70 WEST 100.00 FT OF NORTH 150.00 FT OF TRACT 22
Utilities
Sewer type
Septic Tank
Heating system
Central, Ductless (Heating), Electric (Heating)
Cooling system
Wall/Window Unit(s), Central Air, Window Unit(s)
Water source
Public
Amenities
separate laundry building
Building Details
Year built
1956
Floors in Building
1
Number of units
5
Flooring type
Tile - Ceramic
Building materials
Block, Concrete, Stucco
Additional Structures
Outbuilding
Listing Agency:
FUTURE HOME REALTY INC
(813) 855-4982
Listed By:
Susan McGowan · License #3155686
(813) 484-8655
Added: Oct 31
Changed: Nov 1
Last Checked: Nov 1 at 4:06AM
MLS# TB8563319
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 2,753-square-foot apartment property contains five leased units on a 0.34-acre parcel in New Port Richey. The residences have remodeled kitchens and bathrooms, along with replacement air-conditioning equipment and water heaters. A separate laundry building provides an additional on-site improvement. The main structure is block construction, dates to 1956, and has a roof installed in 2020.
The property is located at 5100 South Road in New Port Richey, Florida, and is zoned R1MH. Public water and a septic system serve the site. Ceramic tile flooring and a mix of central and wall/window cooling systems are among the reported features.
The property is located at 5100 South Road in New Port Richey, Florida, and is zoned R1MH. Public water and a septic system serve the site. Ceramic tile flooring and a mix of central and wall/window cooling systems are among the reported features.
Key Highlights
- Five leased apartment units
- 2,753 square feet on a 0.34‑acre parcel
- Remodeled kitchens and bathrooms; updated air‑conditioning equipment and water heaters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,320
Cap Rate
5.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$506,400
$506.4K
Cap Rate 7%
$361,714
$361.7K
Cap Rate 9%
$281,333
$281.3K
Market Conditions
NOI Build-Up for 2,753 SF
Gross rent
$49.6K $18.00/SF
− Vacancy
−$3.5K −$1.28/SF
EGI
$46.0K $16.72/SF
− OpEx
−$20.7K −$7.52/SF
NOI
$25.3K $9.20/SF
Area
Pasco County, FL
Vacancy
7.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$506,400
Cap Rate 7%
$361,714
Cap Rate 9%
$281,333
Alternative Uses
Best Use
Apartment 5plus
$361.7K
$316.5K – $422.0K
NOI $25,320 @ 7.0% cap · market cap 5.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$627.1K
$548.7K – $731.6K
NOI $43,898 @ 7.0% cap · market cap 10.33%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,491
Businesses Nearby
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Business Placement
Demographics for 34652, FL
26,697
Population
14,700
Households
1.8
Avg Household Size
51
Median Age
20%
College-Educated
88%
High-School Grad
8.6 sq mi
ZIP Area
3,104
Density / Sq Mi
$52,396
Median Household Income
$36,819
Median Earnings
$1,189
Median Rent
$198,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - All five residences are leased and have updated kitchens and bathrooms, with a separate laundry building on site.
Where is this apartment building located?
The property is located at 5100 SOUTH Road New Port Richey, FL.
What is the asking price?
The asking price for this property is $424,900.
What are key features of this property?
This property features: Five leased apartment units; 2,753 square feet on a 0.34‑acre parcel; Remodeled kitchens and bathrooms; updated air‑conditioning equipment and water heaters
